Q&A Weekly Review - What's Asked This Week?

A Q&A Weekly Review keeps traders informed of the latest regulatory status and trading details of brokers mentioned by our users in a given week.

Here, BrokersView gives a summing up of "Q&A" this week - from 21 Nov, 2022 to 25 Nov, 2022, listing the asked brokers by categorizing them into scammers and regulated ones to visually tell traders whether a broker is subject to necessary rules and principles, and summarizes the most concerning issues related to brokers on the ground of our users' questions.

Brokers Asked in This Week

Scam Brokers You Should Stay away from

● Herzen - a scam firm may operating a Ponzi Scheme and alerted by the Securities Commission Malaysia;

● Topstep - a US-based company claims to be registered in the United States but is not under valid regulation by the US NFA;

● Hycmarket.com - a clone broker falsely claims to be regulated by multiple regulatory authorities;

● Anten Group - an illegal limited in Hong Kong unlawfully providing services of financial derivative;

● WorldAW - an unauthorized scam falsely claims its authorizations and regulations under CySEC, Belize FSC, and Mauritius FSC.

● FB Trade - an unlicensed broker in the UK carrying a warning issued by Austrian FMA;

● Damkonet - merely a registered company in the Marshall IRI while without any valid authorization and regulation;

● Jupiter Holdings - an unregulated limited carrying a warning issued by FCA for being a clone firm;

● ClydeTrade - a fraudulent band warned by the Italy CONSOB and the Luxembourg CSSF;

● UeTrades - an illicit firm offering financial products and services without valid regulations;

● Onecapital - a non-supervised entity running the business under no valid regulations and blacklisted by CySEC;

● Warren Bowie & Smith - a scam broker misrepresenting regulatory information;

● FinoTrend - a brand engaging in financial derivatives services without any regulations and flagged by FSMA.

Questions of The Week

Except for the most frequently asked question - "if a broker is licensed/regulated/safe or not," matters of interest to our users this week include brokers' trading and account details, such as demo account, account types, contact phone number, and transaction fees.

Conclusion

If you are about to invest in forex trading yet not sure about brokers' qualifications, or if you would like to get more information about forex brokers, please do not hesitate to "Ask A Question" in our Q&A section.